Retail Investors Can Now Bet On BTC To Hit $100k By 2020

The United States based regulated crypto derivatives and clearing platform LedgerX is in the latest cryptocurrency news – for apparently giving retail investors a chance to bet on Bitcoin (BTC) and the cryptocurrency hitting $100,000 by 2020.

As Bloomberg reports, the $100,000 call option basically means that Bitcoin’s current valuation could increase over ten-fold and hit a $2 trillion market capitalization. This bullish bet on Bitcoin is currently the first crypto derivatives product that is open to retail investors ever since LedgerX sealed approval from the US Commodity Futures Trading Commission (CFTC).

Many best cryptocurrency news sites report that institutional investors have already been able to trade derivatives through the platform for over two years. However, the CEO of LedgerX Paul Chou recently revealed that such clients – each holding assets worth between $10 million and $1 billion – are already interested in the new product.

“Dozens and dozens of these institutions got back to us saying we’d be interested in trading a contract like this. I understand $100,000 is a large number, but a lot of us who’ve been in this space remember Bitcoin at $1, and then it hit $10 and $100 and $10,000. A $100,000 contract doesn’t even make us blink,” said Chou.

As we reported in our altcoin news in June, BitMEX which is the world’s single and leading Bitcoin derivatives provider, posted record volumes in its trading operations. The number of retail investors jumping the derivatives bandwagon increased as Bitcoin (BTC) hit $13,000. In numbers, this translated to $1 billion of open interest in the market, all while the trading topped $13 billion and above $16 billion across the full product range of BitMEX.

This week, the digital asset management fund Grayscale Investments recorded an all-time high volume of assets under management. Grayscale reported $2.7 billion which represents an almost triple of its AUM since the previous quarter. Among the retail investors were institutional clients which represented around 84% of the total mass.

The institutional market is also poised for the roll out of physically delivered Bitcoin futures by the institutional cryptocurrency platform Bakkt on July 22. In the coming altcoin news, the co-founder of Morgan Creek Digital Assets, Anthony Pompliano, said that Bitcoin will hit $100,000 by year 2022.